The Market News Today: BlackRock’s iShares ETF Surpasses MicroStrategy in Bitcoin

Walmart is set to transform online shopping with its generative AI, aiming to become a singular destination for event planning needs. CEO Doug McMillon, after the company’s February earnings call, highlighted the significant improvement in their app’s search function, made more efficient and solution-oriented thanks to generative AI. This innovation positions Walmart not just as a product provider but as an event planner, simplifying the customer experience. The move reflects a broader shift in the retail sector, with major players like Instacart, Amazon, and Shopify also integrating AI in search and shopping processes. This tech evolution is reshaping how consumers find products, potentially challenging Google’s dominant position in search. The future of online shopping could see a seamless blend of AI-driven personalized recommendations and efficient search functions, offering a more intuitive and convenient experience for customers. (CNBC)

Silver Set to Outshine Gold Amid Rate Cut Expectations

Gold’s impressive rally, with prices recently hitting a peak of $2,178 per ounce, could see a continuation as investors anticipate interest rate cuts. However, silver is poised to steal the spotlight in the latter half of the year. Despite gold’s strong performance, silver’s dual role as both a precious and industrial metal places it in a unique position for growth. Current spot silver prices are at $24.36 per ounce, showing modest gains after a significant 5% increase last week. Market strategists suggest that silver’s potential outperformance is linked to expectations of global economic growth, particularly if the U.S. Federal Reserve cuts rates as inflation nears target levels. This shift could see silver, often seen as gold’s underperforming relative, emerge as a stronger investment choice, especially given its widespread industrial applications, from electronics to solar panels. Analysts indicate that a sustained move above the $24 mark could signal further upside for silver, outpacing gold in the coming quarters. (CNBC)

China’s Real Estate: No Bailout, Shift to Manufacturing Focus

China’s struggling real estate sector is set for a reality check, as authorities, led by Housing Minister Ni Hong, dismiss the possibility of a major bailout for developers. In a firm stance, Ni announced that companies facing severe insolvency should either declare bankruptcy or undergo restructuring, adhering to market principles and legal norms. This tough approach is part of a broader effort to clamp down on property market speculation and reduce the sector’s overwhelming influence on the economy. The government’s focus has shifted towards bolstering high-end manufacturing, rather than emphasizing the once-dominant real estate industry. Despite some financing relief for certain developers, the overarching national policy remains unaltered. Real estate, previously accounting for about a quarter of China’s GDP, is now receiving significantly less attention in governmental discussions, aligning with Beijing’s aim to diversify and stabilize the economy. (CNBC)